Inheritance

6 replies
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Do I file a 1099 form with inheritance

Ask the Experts - Energy - June 2023

JBedford

Level 6

Hi, @robbrewer12 , thanks for the question! To answer, generally speaking, inheritances are not taxable. However, are you saying that you received a 1099 form in your name and Social Security number?

Hope this helps, please let me know if this raises additional questions!

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robbrewer12Author

Level 2

The inheritance is in my fathers estate and my sister will distribute it to me mid September 2023. Dose she send me a tax form like a 1099 or do I just don’t say anything on my tax return?

JBedford

Level 6

Based on that information, she would not issue a 1099, and you would not need to report this on your personal tax return. Hope this helps!

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DoninGA

Level 15

There is no federal inheritance tax in the U.S., and only six states — Iowa, Kentucky, Maryland, Nebraska, New Jersey and Pennsylvania — actually impose a state-level inheritance tax.

What type of inheritance did you receive?